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"Contrary to what neoclassical economists claim, there are no neutral market forces that allocate income in proportion to productivity. Instead there are only ideas and the power to implement them. In other words, people have ideas about what their income should be (and also what other people’s income should be). And they have the power (or lack thereof) to make these ideas a reality. That’s it."
@blair_fix, How #InterestRates Redistribute Income
https://economicsfromthetopdown.com/2023/04/16/how-interest-rates-redistribute-income/
Economics from the Top DownHow Interest Rates Redistribute Income – Economics from the Top DownAre interest rates a neutral policy variable? Or are they a tool for class warfare? It turns out that the evidence speaks for itself. Here are three ways that higher interest rates redistribute income.